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The Bank of England warns that stablecoins threaten public trust in currency.
[Coin World] On July 3, news reported that Andrew Bailey, the Governor of the Bank of England, warned that the rise of stablecoins could undermine public trust in currency as experts raised alarms about the threats posed by the large-scale application of crypto assets backed by the dollar. In a speech released on Thursday, Bailey stated that the Central Bank must "closely follow" innovations in the payment sector to prevent them from introducing new vulnerabilities to the monetary system.
Generated comment:
Really afraid of stablecoins.